The present invention relates to a magnetizable label or patch attaching means for automatically, adhesively securing a magnetizable strip of material to a commercial document such, for example, as a savings bank passbook at a precise location thereon without accumulating tape feed error and without leaving partially exposed adhesive at the end of the feeding cycle.
No prior art device is known for performing precisely the same function as that of the present invention. Prior art apparatus for dispensing, printing, and/or attaching labels of one kind or another are not easily and/or efficiently adaptable to perform the present functions without a complete redesign of such device if, in fact, the presently sought end results could thereby be achieved at all.
It is an important and primary object of the present invention, therefore, to provide label and/or patch dispensing and adhering apparatus wherein adhesively backed items such as labels or patches carrying magnetizable material thereon are precisely and accurately aligned with respect to an edge portion of a savings bank passbook. The apparatus of the invention includes means for adhesively bonding the label or patch to the passbook cover as the passbook is automatically extracted or withdrawn from the apparatus to provide for the extra passbook label application.